GK and monthly revision

Oil gains after selloff, awaits progress on Strait of Hormuz flows

Oil prices rebounded slightly after a significant drop, driven by cautious optimism regarding U.S.-Iran peace talks and potential easing tensions in the Strait of Hormuz. The Strait is a crucial waterway for global oil transport, and any normalization of crude flow is vital for market stability. Investors are closely monitoring tanker movements, reflecting a gradual return to normalcy in oil traffic, which has implications for global energy security and economic stability.